Business
Mood Media Reports Third Quarter 2013 Results
Successfully Implementing Operational Initiatives to Support Growth, Create Efficiencies an...
About this update from Maximus Metals, Inc.
[{"type":"text","content":"\n\n\nSuccessfully Implementing Operational Initiatives to Support Growth,\n Create Efficiencies and Enhance Profitability \n\n\nIntegration, Consolidation and Synergy Program Expected to Generate $8\n Million in Annualized Cost Savings Beginning in the Fourth Quarter \n\n\nUpdates 2013 Financial Outlook\n\n\nTORONTO, Nov. 14, 2013 /CNW/ - Mood Media Corporation (ISIN:\n CA61534J1057) (TSX:MM) (LSE AIM:MM), one of the world's largest\n integrated providers of in-store customer experience solutions, today\n reported results for the third quarter ended September 30, 2013, and\n provided an update on strategic and operational initiatives.\n\n\nThird Quarter Highlights\n\n\n\nAppointed Steve Richards President and Chief Executive Officer of Mood\n Media\n\n\nAppointed Ken Eissing Chief Operating Officer of Mood Media, North\n America\n\n\nAppointed Randal Rudniski Interim Chief Financial Officer\n\n\nBegan executing a three-phase business efficiency and business\n integration synergy program to streamline Mood Media's operating\n infrastructure to create efficiencies and enhance profitability, while\n positioning opportunities for growth across Local Audio, Visual\n Solutions and Mobile Services.\n\n\nAnnounced it has implemented 98% of the first wave of its efficiency and\n integration program, which will produce reductions of $8 million in\n annualized expenses, with benefits to begin in the fourth quarter of\n 2013.\n\n\nAnnounced third quarter revenues were $126 million (a 5% increase\n compared with the same period last year); Achieved EBITDA of $26\n million (a 17% percent decrease compared with the same quarter of\n 2012).\n\n\nReported growth in its subscriber base, having reduced churn (to 0.6%\n per month), posting a stabilized trend in ARPU with only a 0.6%\n reduction quarter over quarter ($59.00 vs. $59.37).\n\n\n\n\"I see significant opportunities to utilize our best-in-class asset\n portfolio to deliver new experiences for  our clients, create new\n opportunities for longer term growth and extract value for shareholders\n via integration and consolidation across our business,\" said Steve\n Richards, President and CEO of Mood Media.  \"We are executing several\n initiatives to better align Mood's operating infrastructure to support\n growth opportunities, create efficiencies and enhance ongoing\n profitabili...